Monday, December 12, 2011

New Jersey Man Accused Of Embezzling $1.6 Million Via Fraudulent Billing Schemes

George Ortega, 50, of Kinnelon, New Jersey, has been charged with embezzling some $1.6 million from ARGIX Direct, doing business as Passport CFS Logistics where he had been employed.  According to authorities, over a period of at least 8 1/2 years, from January 2003 through May 2011, Ortega employed a variety of fraudulent vendor and billing schemes to siphon funds from the company.  For example, Ortega allegedly created a phony vendor to which fraudulent payments were made.  Another scheme involved co-conspirators at actual vendors who were paid or overpaid for work not performed from which Ortega benefited.  Ortega has been charged with one felony count each of financial facilitation of criminal activity, theft by deception, and misconduct by a corporate official.

Read the story here.

Hat tip: FraudTalk reader Joe.

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